Newsletter, 5th of April

🔥 What happened last week…

• Synthereum TVL overpassed 1M USD
• Borrowing pool deployed on Kovan
• Few new ATH this week: TVL, MCAP, number of addresses
• JRT listed on Loopring
• An interesting use case for jFiat: combat negative interests
• APY of 28%, 6% and 22% on Uniswap, Bancor and Sushiswap

👨‍💻 Protocols

Synthereum (Synthetic Protocol)

• jSynths minted: $682k
• TVL: $1M
• 4.6kk of available liquidity to mint around $9.2k of jSynths

We reached $1M in TVL, due to one of our investors, who badly wanted to sell his profit for jEUR. Thanks to him, Synthereum reached another milestone!

The self-minting/borrowing pool smart contracts were successfully deployed on Kovan and the first transaction to mint jEUR with JRT was performed (don’t pay attention to the numbers/collateral ratio etc. it is only for testing).

We published the result of our first security audits:

Security audit by Halborn

For the past 2–3 weeks, different companies (mostly Swiss ones) contacted us to understand how they could exchange their CHF for jCHF, to avoid paying the negative interest, and eventually to generate yield with their treasury. This is quite an interesting use case! We actually have been discussing it internally as our company is also paying negative interest. Therefore we were thinking to move part of the company’s treasury to jEUR to combat it.

$JRT

The price went all the way up to $0.26 by the end of the week.

The number of addresses increased by more than 300, totalling to 3,715 unique holders.

Marketcap also reached ATH at $32M.

📱 dApps

Jarvis Exchange

https://app.jarvis.exchange

The dropdown on the chart to select an asset pair has been adjusted and improved to fit our design. We also made few adjustments to the skeleton loaders, however, we’d like to improve them a bit further.

🐱‍🏍 MISC

Liquidity program

JRT was listed on Loopring exchange, you can now swap JRT with a minimal gas price. JRT trading started together with a liquidity mining program from Loopring, which will last for another week (with a juicy 200% APY):

Loopring Exchange

Total liquidity: $5,528,229

• Uniswap V1: $26,542;
• Uniswap V2: $961,382;
• Bancor: $1,945,633;
• Balancer: $735,542;
• Sushiswap: $1,859,130.

You can buy $20k worth of $JRT with 0.23% slippage and $50k with 1.46% slippage.

35,000 $JRT are added to the next airdrop for Uniswap LPs, and 15,000 $JRT for the Bancore ones (50,000 $JRT altogether, which was roughly $7,500).*

*Tokens were sent to the addresses that accumulated more than 100 USD worth of JRT. This helped us to reduce the gas costs by a big margin, the rest will be sent in the next batch.

• Uniswap weekly ROI 0.54% / yearly ROI 28.39%;
• Bancor weekly ROI 0.11% / yearly ROI 6.01%;
• SushiSwap weekly ROI 0.47% / yearly ROI 22.69%.*

*SushiSwap LPs receive Sushi tokens as rewards

Sponsoring Program

• Deposited capital: $494,123 (-1.28%)
• Interest generated: $786.26 (-51.69%)
• Allows financing: $44,929

Aave participants share 20,000 $JRT, which translated to a weekly ROI of 0.59% and a yearly ROI of 31.04%.

This is all for now, stay safe, and see you next week!

Vsevolod.

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